Yes, I know what "ln -s" command creates and I have used it in the past without problems - but this time it simply doesn't want to create symlink inside ~/Library/Application Support folder, it insists on creating an alias.
And yes, there are gazzilions of reasons for creating a symlink in that folder - many applications insist on placing their data folders there. I keep only system and applications on my boot drive (128 GB SSD) and all data on the second HDD - it simplifies backup and recovery, simplifies booting from cloned system volume with full access to the folders outside SSD is there is a problem and I need to reinstall OSX, plus there are no 2TB or larger SSD's yet on the market (not that I could afford one at current prices per GB of SSD). So, I keep iTunes (over 500 GB), photos, movies (another 500+ GB) outside of SSD on the HDD inside the MyMedia volume and all my documents (over 100 GB) inside MyDocs volume on HDD.
One of those offending programs insisting to keep everything inside ~/Library/Application Support folder is Adobe Air used by Zinio Reader. I have a large, ever growing Zinio library (over 15 GB as of now) and shortly after getting SSD and upgrading to Mountain Lion ages ago I was able to move the Zinio library to HDD and then create a symlink to it in ~/Library/Application Support folder's location using "ln -s" command. No problem at all. I hope the above long explanation tells you clearly that there are reasons for creating aliases and symlinks in ~/Library.
Now my HDD is getting old and doesn't have enough space anymore, so I replaces it with new larger HDD. Everything works, except the problem with creating a symlink to Zinio library inside the proper location inside ~/Library/Application Support folder. Like I said - I tried all, I started the easy way with SymbolicLinker service - it created an alias instead of symlink. Then I tried SymLinker app - it doesn't allow me to select any target inside ~/Library/Application Support folder. Finally I turned to trusted Terminal and used "ln -s" command - it created an alias again, instead of symlink.